Perfect Competition in the Short Run

This Perfect Competition in the Short Run video also includes:

What exactly is perfect competition, one of the four market structures, in economics?

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CCSS: Adaptable
Concepts

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Classroom Considerations

  • Appropriate for a higher-level or advanced placement class 
  • Learners should be familiar with marginal cost curves
Pros

  • Illustrates process of drawing market/industry graph and that of an individual firm
  • Offers interactive process for viewers, who are prompted to pause the video to practice calculating total revenue, cost, and profit
Cons

  • None